Draft Audit Report Eng MicroInvest

Asian Business Group MICROLOAN FUND “MICROINVEST” Financial Statements and Auditor’s Report For the year ended 31 December 2008 CONTENTS Independent Auditor’s Report Financial Statements Balance Sheet.......................................................................................................... 1 Income Statement.................................................................................................... 2 Statement of Changes in Equity.................................................................................. 3 Cash Flows........................................................................................... 4 Notes to the Financial Statements 1 Introduction ..................................................................................................... 5 2 Operating Environment of the MLF ...................................................................... 5 3 Basis of Preparation and Significant Accounting Policies .......................................... 6 4 Critical Accounting Estimates, and Judgements in Applying Accounting Policies ........ 10 5 Cash and Cash Equivalents .............................................................................. 11 6 Microcredits to customers ................................................................................ 11 7 Fixed assets ............................................................................ ...